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MF Icon: Michael Phelps Revealed

Phelps Foundation

Phelps has been sponsored by Speedo since he was 16. Structured into his contract was a bonus worth $1 million if he tied Mark Spitz’s record of seven gold medals in a single Olympic Games. He exceeded that in the 2008 Olympic Games in Bejing, and used the money to start the Michael Phelps Foundation, which focuses on growing the sport of swimming and promoting active and healthy lives, especially in children. “My whole thing started from one dream,”
Phelps says. “I just never gave up. You’re going to have bumps in the road. It all depends on how you deal with those bumps. If you want something bad enough, you’re not going to give up until you get it. That’s really what I’m trying to help kids understand.”